
Shareholder fair-value dispute
Business valuation

Rafael Duarte is a managing director in the arbitration practice in New York. He leads the firm’s work on corporate valuation disputes in the Americas and has been appointed as expert in more than twenty-five international arbitrations and in proceedings before Delaware and New York courts, including appraisal actions, earn-out claims and shareholder disputes.
His work covers technology, telecoms, media and consumer businesses, with a significant share of matters involving Latin American companies. He is known for valuing intellectual property and early-stage businesses where historical results offer little guidance, and for reconciling market evidence with cash-flow models so that tribunals can see why the figures differ.
Before joining Pemberton & Co. he was a vice president at a private equity fund focused on Latin America, where he led valuations for acquisitions and exits, and earlier worked in transaction services in São Paulo. He holds an MBA from the Wharton School and a degree in economics from the Universidade de São Paulo.
He is recommended for commercial arbitration experts by the legal directories and is a Chartered Financial Analyst. He speaks in English, Spanish and Portuguese at arbitration events across the Americas, and has written on the treatment of synergies and control premiums in appraisal proceedings for a corporate law review.

Business valuation

Financial modeling

Valuation

Regulatory economics